Tax Overages
WHAT ARE OVERAGES
If a property has delinquent tax, the county tax collector will issue a tax lien on the property as an attempt to recoup the past-due taxes.
Eventually, if the defaulting taxpayer fails to pay the past-due taxes, the property will go to tax deed sale at a public auction.
At the delinquent-tax sale, the property is sold to the successful bidder, which for most treasurer’s offices is the highest bid above the delinquent property tax plus penalties, fees, or assessments.
WHAT ARE OVERAGES
If a property has delinquent tax, the county tax collector will issue a tax lien on the property as an attempt to recoup the past-due taxes.
Eventually, if the defaulting taxpayer fails to pay the past-due taxes, the property will go to tax deed sale at a public auction.
At the delinquent-tax sale, the property is sold to the successful bidder, which for most treasurer’s offices is the highest bid above the delinquent property tax plus penalties, fees, or assessments.
When a property is sold at a tax foreclosure sale for more than the total delinquent tax amount, any excess funds over that amount are placed into an overage account with the county. Since the county doesn’t go out of their way to notify the past homeowner, if the overage isn’t claimed in a specific time frame the county keeps the overages ( money) and the previous homeowner loses out on money they were entitled too.
We are Here, are For you, will Help you
Here at Hurricane and Associates we have helped hundreds of families receive money they had no idea existed.
The same thing is true for properties that go into foreclosure. Sometimes properties sell for more than what is owed to the banks and the excess funds are also put into overage accounts.
Here at Hurricane and Associates our specialists will fight to recover money from the states and returning it to you the homeowner.